DnB Asset Management AS Acquires 2,412 Shares of Simon Property Group, Inc. (NYSE:SPG)

DnB Asset Management AS grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,906 shares of the real estate investment trust’s stock after acquiring an additional 2,412 shares during the period. DnB Asset Management AS’s holdings in Simon Property Group were worth $10,489,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 1.0 %

Shares of SPG opened at $164.21 on Friday. The stock’s 50-day moving average price is $175.42 and its 200 day moving average price is $174.45. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market capitalization of $53.58 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.